NAM Opposes Energy Bill

Nov. 16, 2007
Cites potential loss of nearly 5 million jobs

The National Association of Manufacturers (NAM), last week spoke out against proposed Congressional energy legislation, highlighting the projected loss of nearly 5 million jobs and 4% GDP reduction by 2030 expected to result from the bill's implementation.

A study released by Charles River Associates (CRA) this week examined the potential economic impacts of energy legislation currently being considered by the U.S. Congress.

"The CRA study vindicates what the NAM has been saying about proposed Congressional energy legislation: in their current form, these bills are bad for manufacturers and bad for the U.S. economy," said Keith McCoy, NAM vice president for energy and resources policy.

The study assessed provisions in the bills, including a mandatory oil savings program, a renewable fuels standard, oil industry tax increases, a "price gouging" provision, a renewable portfolio standard for the electric power sector, more stringent CAFE standards and various proposed access restrictions on domestic production of oil and natural gas.

Energy intensive manufacturing would be among the sectors disproportionately affected by the bill, according to the study. The proposed legislation also is expected to diminish the American household's annual purchasing power by approximately $1,700 and reduce aggregate investment by 3.4%.

Continue Reading

Popular Sponsored Recommendations

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

Lean Manufacturing in the Age of the Industrial Internet

Oct. 24, 2023
Read how advanced MES capabilities can help you improve your labor utilization, reduce WIP, and optimize your production. Download the white paper today.

Disruptive EV Technologies Are Driving New Supplier Realities

Sept. 20, 2023
Vehicle electrification is upending the automotive landscape, forcing suppliers to make critical strategic and operational decisions. Understand what that means for you in our...

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!